Economics
U.S. Consumer Sentiment Falls to Fresh Decade Low on Inflation
- University of Michigan gauge slumps to 61.7 in February
- Share expecting finances to worsen highest in four decades
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U.S. consumer sentiment declined further in early February to a fresh decade low as views about personal finances deteriorated due to intensifying inflation concerns.
The University of Michigan’s sentiment index dropped to 61.7, the lowest since October 2011, from 67.2 in January, data released Friday showed. The figure trailed the median estimate of 67 in a Bloomberg survey of economists.